eTrade 2001 Annual Report Download - page 145
Download and view the complete annual report
Please find page 145 of the 2001 eTrade annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155 -
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
 |
 |
Borrowings by Bank subsidiary are comprised of FHLB advances and securities sold under agreements to repurchase (“REPOs”) and
other short-term borrowings. The maturities of borrowings by Bank subsidiary at December 31, 2001 are shown below (dollars in
thousands):
FHLB Advances
December31, 2001
Repurchase Agreementsand Short-Term
Borrowings December31, 2001 Total December31, 2001 Weighted Average
Interest Rate
Due in Fiscal:
2002 $ 506,300 $ 3,129,140 $ 3,635,440 2.06 %
2003 200,000 135,000 335,000 2.22 %
2005 50,000 — 50,000 6.88 %
2006 100,000 — 100,000 1.90 %
2007—Thereafter 50,000 — 50,000 6.96 %
Total borrowings by bank
subsidiary
$ 906,300 $ 3,264,140 $ 4,170,440
The Bank subsidiary has $806.3 million floating rate and $100 million fixed rate advances at December 31, 2001. The floating rate
advances adjust daily to the Federal Funds Rate or quarterly based on the London InterBank Offering Rate (“LIBOR”) rate. The
advances were collateralized in accordance with the “Advances, Specific Collateral Pledge and Security Agreement” with the FHLB,
executed September 10, 1980. Under this
127
Table of Contents
agreement, the Bank is required to maintain qualified collateral equal to 110 to 115 percent of the Bank’ s FHLB advances, depending
on the collateral type. As of December 31, 2001, and September 30, 2000, the Bank secured these advances with an assignment of
specific mortgage loan collateral from its loan portfolio and with mortgage-backed securities. The one- to four-family first- mortgage
whole loans and mortgage-backed securities pledged as collateral totaled approximately $3.5 billion at December 31, 2001 and $2.6
billion at September 30, 2000. The Bank is required to be a member of the FHLB System and to maintain an investment in the stock of
the FHLB at least equal to the greater of one percent of the unpaid principal balance of its residential mortgage loans, one percent of
30 percent of its total assets or one-twentieth of its outstanding advances from the FHLB.
Information concerning borrowings under fixed- and variable- rate coupon repurchase agreements and other short-term borrowings is
summarized as follows (in thousands):
December31, 2001 September 2000
Weighted average balance during the year (calculated on a daily basis) $ 3,180,272 $ 1,471,435
Weighted average interest rate during the year (calculated on a daily basis) 5.94 %
6.39 %
Weighted average interest rate at year-end 1.89 %
6.71 %
Maximum month-end balance during the year $ 4,162,231 $ 2,173,410
2002. EDGAR Online, Inc.